With cyber losses running in the hundreds of billions of dollars, the private sector must establish its own standards for cybersecurity or face government regulations that would be painful for some firms. Either way, regulatory guidance is necessary for the private sector to avoid potentially fatal hemorrhaging of assets and information to cybermarauders.
A new management trend may impel corporations to implement better cybersecurity: lead or get out of the way. Either corporate leaders take the initiative for improving their companies' cybersecurity, or shareholders will demand their ouster following a damaging attack that puts corporate futures in doubt.
Businesses that neglect their cybersecurity needs risk being put out of business by even the simplest of attacks, according to cybersecurity experts. While all companies face the threat of a devastating financial cyber robbery, even a simple attack that steals information could be the end for a small- or medium-size business.
Many U.S. companies are losing business because of cyber issues expressed by foreign firms. These concerns can range from fears of U.S. vulnerabilities to worries that intelligence agencies will have access to information held by U.S. contractors.
"Cyber is the ultimate team sport." The U.S. Cyber Command (CYBERCOM) faces a unique set of challenges as it tries to engage industry and academia in the cybersecurity effort, according to its commander.
The U.S. Cyber Command (CYBERCOM) views the Defense Information Systems Agency as a key partner in its effort to secure defense cyberspace. This includes the agency having an operational mission in which it plays a critical role in defending defense cyberspace, according to the commander of CYBERCOM.
Innovation may be the key to ensuring that the national critical infrastructure is protected from new cyberthreats, said Suzanne Spaulding, undersecretary for the National Protection and Programs Directorate at the DHS. The private sector must step in to help prevent future attacks.
The public/private partnership that influences many government efforts is a core effort as the Department of Homeland Security (DHS) strives to protect the homeland from cyber attacks. Above all, the private sector must take the lead in some endeavors. “We need improved cyber hygiene.”